Rayhuh
13 years ago
New CFO and posted cemetery license documents
Interesting things happening at CGPI:
They hired a new CFO, see PR below
They also further cooperated in GeoInvesting's investigation by posting their (valid) cemetery licenses including a verification letter from today at
https://cgpi.box.net/shared/ttfak2x913
Clear roads ahead, Maj? Looking forward to the report.
03.03.2011 13:31
China Redstone Group Appoints Michael He as Chief Financial Officer
CHONGQING, China, March 3, 2011 /PRNewswire-Asia/ -- China Redstone Group, Inc. (BULLETIN BOARD: CGPI) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, today announced the appointment of Michael He to the position of Chief Financial Officer.
Mr. He joins China Redstone after working with Chisen Electric, a $200 million motive battery manufacturer based in China, as Director and Chief Financial Officer and President of its US affiliates Chisen Technology. Mr. He oversaw the Company's financial information systems and internal controls, and was responsible for the Company's accounting, financial, human resources and information technology functional areas. Prior to this, Mr. He was Senior Manager of Consumer Electronics Global Sourcing at Amazon.com where he was responsible for LCC direct import and private label branding activities in consumer electronics segment from 2006 to 2008. He also served as Financial Analysis&Reporting Manager for Global Financial Services at Capital One Financial Corporation from 2004 to 2006. Mr. He holds an MBA from The University of Texas at Austin, Texas, and a B.S. in Electrical Engineering from Shanghai Jiao Tong University in China.
Mr. Yivou Ran, Chairman and Chief Executive Officer of China Redstone said, "We are pleased to have Michael join us as a key member of our senior management team. We look forward to utilizing his leadership and financial expertise while leveraging the knowledge and experience he gained during the past twenty years while working at both Fortune 500 companies and small entrepreneurial businesses in both China and the U.S. His capital markets insight be a welcome addition to the Company as we look to elevate our stature as a public Company."
China Redstone Group, Inc.
China Redstone is a cemetery developer and provider of cemetery products and services in Chongqing, China, through its contractually controlled affiliate Chongqing Foguang Tourism Development (Group) Co., Ltd. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis. Its cemeteries are highly regarded in terms of a number of factors such as tradition, reputation, physical size, capacity of business, available supply, name recognition, aesthetics and potential for development or expansion.
Rayhuh
13 years ago
On CGPI's Recreational Park
I posted this on yahoo about CGPI's plans to build a park:
Hi Mustrisa,
according the last 10Q:
"In February 2009, the Company recorded a prepayment related to a contract in the amount of $4,101,970 (7% of the contract), for the construction of entertainment boats. Chongqing Bo Goa Tourism Company (“Bo Goa”), an unrelated third party, and the Company were going to jointly develop the “Liang Jiang Yu” project. In September 2009, the Company took over as the sole developer on this project. This project includes development of a park near the Longqiao Lake as a way to attract more tourism in the Changshou area near the Company’s cemetery site. The scope of the project currently contemplates 10 to 20 entertainment boats, a welcome center, a large sailboat and nine docks. As of September 30, 2010, the Company’s total prepayment for this project is $8,682,600. The cost incurred with the project decreased by approximately $1,439,700 because construction costs was capitalized and moved into inventory. The total price of the contract is approximately $64,000,000."
So until now they have already spent 8,6 Mio out of 64 Mio $ for the total project. I would say that their park's sole intention is to provide long-term attractiveness to their whole area and therefore independent revenues after their cemetaries are at full capacity. So in the long-term, it's not the worst idea. I think, that this was more or less the reason they listed on the OTC, because at some point in the future they will definitely raise capital again.
What I don't like is, that they are already starting in spending all their cash on this project. I would rather see that they acquire other cemetaries and stick to their regular business. Or first collect some cash and then build the park in one go, but with clear plans what revenues and costs they expect, I haven't read anything on that matter.
So I think that they will definitely build that park, I just hope that they do it in an intelligent way, and don't raise capital at this low stock price. It's not the first time that a chinese small-cap has done that, without regards to us shareholders...
Johnstone
13 years ago
CGPI huge earnings report!!
CHONGQING, China, Nov. 16, 2010 /PRNewswire-FirstCall/ -- China Redstone Group, Inc. (OTC Bulletin Board: CGPI) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, today announced the following correction to its press release issued today entitled "China Redstone Group Reports Second Quarter Fiscal Year 2011 Financial Results". The press release incorrectly stated that the Company generated GAAP and adjusted non-GAAP EPS of $0.36 for the second quarter of fiscal 2010. The correct EPS figure is $0.31 for both measures. The table on page one of the above-referenced press release should have shown the following.
Fiscal Second Quarter 2011 Results (unaudited)
Q2 2011
Q2 2010
CHANGE
Net Sales
$11.6 million
$6.7 million
+71.7%
Gross Profit
$7.1 million
$3.9 million
+83.0%
GAAP Net Income
Adjusted Non-GAAP Net Income
$4.7 million
$4.9 million (1)
$2.7 million
$2.7 million
+72.7%
+80.1%
GAAP EPS (Diluted)
Adjusted Non-GAAP EPS (Diluted)
$0.37
$0.39 (1)
$0.31
$0.31
+19.4%
+25.8%
Weighted Average Shares
12.7 million
8.8 million
+44.0%
(1)Excluding loss on change in fair value of warrants of $0.3 million for Q2 2011.
China Redstone Group, Inc.
China Redstone is a cemetery developer and provider of cemetery products and services in Chongqing, China, through its contractually controlled affiliate Chongqing Foguang Tourism Development (Group) Co., Ltd. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis. Its cemeteries are highly regarded in terms of a number of factors such as tradition, reputation, physical size, capacity of business, available supply, name recognition, aesthetics and potential for development or expansion.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
SOURCE China Redstone Group, Inc.
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Rayhuh
13 years ago
CGPI is one of the few names that didn't take part in the recent runup. The time and the fundamentals told me to buy :)
Outlook for 2011:
Revenue 40 Mio
Income about 20 Mio
Non-GAAP EpS 1.45
Price 4.07 -> PE 2.8!
Data from MSN money:
PE 2,7
PR 1,27
PB 1,21
PCF 3,8
Last PR:
14.10.2010 15:23
China Redstone Announces Cemetery Plot Sales and Preliminary Revenues for Second Quarter Fiscal 2011
-- Plot sales in Q2 FY2011 increased 70.2% year-over-year
-- Average sales price per plot increased month-over-month each month in Q2
FY2011 -- Company on track to sell at least 7,000 plots in fiscal year ending March
30, 2011
CHONGQING, China, Oct. 14 /PRNewswire-Asia-FirstCall/ --China Redstone Group, Inc. (BULLETIN BOARD: CGPI) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, today reported that it sold 1,726 cemetery plots for its fiscal second quarter ending September 30, 2010. The Company also announced that based on its preliminary estimates it expects revenue for its fiscal second quarter to be at least $11.8 million. This compares with revenue of $7 million reported for the second quarter of fiscal 2010, representing an increase of 69.3% year-over-year.
China Redstone sold 613 and 577 cemetery plots in July and August 2010, representing an increase of 56.8% and 34.5% from the same periods last year, respectively. The average selling price gained momentum throughout the quarter, increasing from $6,524 in July to $6,738 in August to $6,907 in September. The $6,800 average selling price for fiscal second quarter 2011 is approximately 2.0% higher than the average selling price for fiscal first quarter 2011 average and well above the $5,000-$6,250 forecast for the fiscal year ending March 31, 2011.
The following summarizes the Company's recent cemetery plot sales trends:
(Fiscal year ending July September FY11
March 30) 2010 August 2010 2010 FY11 YTD Guidance
Cemetery Plot Sales 613 577 536 3,580 7,000
Average Sales Per
Plot $6,524 $6,738 $6,746 $6,613 $5,000-$6,250
"We continue to see very strong demand for our products, as evidenced by the 3,580 plots we sold in the first six months of fiscal 2011," stated Mr. Yiyou Ran, Chairman and Chief Executive Officer of China Redstone. "We are especially encouraged by our customers' preference for premium lots, which command selling prices 32.3% higher than non-premium lots. The combination of higher sales, no credit risk and limited working capital needs for our core business position us well to generate significant cash flow growth in 2011 and beyond."
Financial Outlook for Fiscal Year 2011
For the fiscal year ending March 30, 2011, management expects revenues of $40 million, GAAP net income of $19.5 million, and GAAP earnings per share of $1.45, representing an increase of approximately 9.6%, 59.8%, and 9.0%, respectively, from fiscal 2010. Guidance includes projected sales of approximately 7,000 plots sold during fiscal year 2011 with average selling prices of $5,000 to $6,250.
China Redstone will report its full financial results for its fiscal second quarter ending September 30, 2010 in November 2010.
China Redstone Group, Inc.
China Redstone is a cemetery developer and provider of cemetery products and services in Chongqing, China, through its contractually controlled affiliate Chongqing Foguang Tourism Development (Group) Co., Ltd. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis. Its cemeteries are highly regarded in terms of a number of factors such as tradition, reputation, physical size, capacity of business, available supply, name recognition, aesthetics and potential for development or expansion.
newelong
13 years ago
CGPI - China Redstone Group Recognized as One of the Top 100 Private Companies in China by the Chinese Government
Press Release Source: China Redstone Group, Inc. On Wednesday October 27, 2010, 3:44 pm EDT
CHONGQING, China, Oct. 27 /PRNewswire/ -- China Redstone Group, Inc. (OTC Bulletin Board:CGPI.ob - News) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, today announced it received two Certification of Honor awards at the 2010 China Private Enterprise Forum in Beijing (the "Forum"), jointly hosted by the Association of Chinese Private Entrepreneurs and the Chinese International Economic Cooperation Association (CIECA), both agencies of the Chinese central government.
China Redstone was given a Certification of Honor recognizing the Company as one of the top private enterprises in China for corporate integrity and economic contribution to its local community. Additionally, Mr. Yiyou Ran, Chairman and Chief Executive Officer, was the recipient of the Outstanding Private Entrepreneur award, given to only 100 Chinese entrepreneurs each year. The award ceremony was held at the Great Hall of the People.
The Forum is a prestigious three-day event held annually focusing on the future development of private enterprises in China, and included over 1,000 leaders of private enterprises, state leaders and council ministers in attendance this year.
"We are honored to receive these two awards," said Mr. Ran, "As one of the largest and most successful private cemetery service providers in Chongqing, we appreciate the recognition we have received from both the local and central government. We believe this will further enhance our brand and support healthy demand for our products. We would like to thank the Forum and its hosts for acknowledging our achievements."
China Redstone Group, Inc.
China Redstone is a cemetery developer and provider of cemetery products and services in Chongqing, China, through its contractually controlled affiliate Chongqing Foguang Tourism Development (Group) Co., Ltd. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contacts:
China Redstone Group, Inc.
Mr. Michael Wang, CFO
888-600-7955
OR
HC International, Inc.
Ted Haberfield, Executive VP
Tel: +1-760-755-2716
Email: thaberfield@hcinternational.net
Bob Stocks
14 years ago
China Redstone Announces Cemetery Plot Sales and Preliminary Revenues for Second Quarter Fiscal 2011
China Redstone Grp. (BB) (OTCBB:CGPI)
Intraday Stock Chart
Today : Thursday 14 October 2010
Click Here for more China Redstone Grp. (BB) Charts.
China Redstone Announces Cemetery Plot Sales and Preliminary Revenues for Second Quarter Fiscal 2011 -- Plot sales in Q2 FY2011 increased 70.2% year-over-year -- Average sales price per plot increased month-over-month each month in Q2 FY2011 -- Company on track to sell at least 7,000 plots in fiscal year ending March 30, 2011
PR Newswire
CHONGQING, China, Oct. 14
CHONGQING, China, Oct. 14 /PRNewswire-Asia-FirstCall/ --China Redstone Group, Inc. (OTC Bulletin Board: CGPI) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, today reported that it sold 1,726 cemetery plots for its fiscal second quarter ending September 30, 2010. The Company also announced that based on its preliminary estimates it expects revenue for its fiscal second quarter to be at least $11.8 million. This compares with revenue of $7 million reported for the second quarter of fiscal 2010, representing an increase of 69.3% year-over-year.
China Redstone sold 613 and 577 cemetery plots in July and August 2010, representing an increase of 56.8% and 34.5% from the same periods last year, respectively. The average selling price gained momentum throughout the quarter, increasing from $6,524 in July to $6,738 in August to $6,907 in September. The $6,800 average selling price for fiscal second quarter 2011 is approximately 2.0% higher than the average selling price for fiscal first quarter 2011 average and well above the $5,000-$6,250 forecast for the fiscal year ending March 31, 2011.
The following summarizes the Company's recent cemetery plot sales trends:
(Fiscal year ending March 30)
July 2010
August 2010
September 2010
FY11 YTD
FY11 Guidance
Cemetery Plot Sales
613
577
536
3,580
7,000
Average Sales Per Plot
$6,524
$6,738
$6,746
$6,613
$5,000-$6,250
"We continue to see very strong demand for our products, as evidenced by the 3,580 plots we sold in the first six months of fiscal 2011," stated Mr. Yiyou Ran, Chairman and Chief Executive Officer of China Redstone. "We are especially encouraged by our customers' preference for premium lots, which command selling prices 32.3% higher than non-premium lots. The combination of higher sales, no credit risk and limited working capital needs for our core business position us well to generate significant cash flow growth in 2011 and beyond."
Financial Outlook for Fiscal Year 2011
For the fiscal year ending March 30, 2011, management expects revenues of $40 million, GAAP net income of $19.5 million, and GAAP earnings per share of $1.45, representing an increase of approximately 9.6%, 59.8%, and 9.0%, respectively, from fiscal 2010. Guidance includes projected sales of approximately 7,000 plots sold during fiscal year 2011 with average selling prices of $5,000 to $6,250.
China Redstone will report its full financial results for its fiscal second quarter ending September 30, 2010 in November 2010.
China Redstone Group, Inc.
China Redstone is a cemetery developer and provider of cemetery products and services in Chongqing, China, through its contractually controlled affiliate Chongqing Foguang Tourism Development (Group) Co., Ltd. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis. Its cemeteries are highly regarded in terms of a number of factors such as tradition, reputation, physical size, capacity of business, available supply, name recognition, aesthetics and potential for development or expansion.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contacts:
China Redstone Group, Inc.
Mr. Michael Wang, CFO
888-600-7955
OR
HC International, Inc.
Ted Haberfield, Executive VP
Tel: +1-760-755-2716
Email: thaberfield@hcinternational.net
10 bagger
14 years ago
CGPI.. $3.77
CHINA REDSTONE GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
For the year ended For the year ended
March 31, 2010 March 31, 2009
REVENUE
Cemetery $ 36,498,969 $ 17,647,785
Park construction services — 665,935
Total revenue 36,498,969 18,313,720
COST OF GOODS SOLD
Cemetery 17,565,765 9,445,153
Park construction services — 493,700
Total cost of goods sold 17,565,765 9,938,853
GROSS PROFIT 18,933,204 8,374,867
OPERATING E X P E N S E S
Selling expenses 196,945 426,415
General & administrative expenses 1,595,639 1,045,060
TOTAL OPERATING EXPENSES 1,792,584 1,471,475
INCOME FROM OPERATIONS 17,140,620 6,903,392
OTHER INCOME (EXPENSES)
Other income 427,510 255,893
Loss on change in fair value of warrants classified as derivatives (571,950 ) —
Interest expenses (235,240 ) (235,208 )
Interest income 24,546 6,361
Rental income, net 261,750 260,286
Non-operating expenses (12,642 ) (3,772 )
TOTAL OTHER INCOME (106,026 ) 283,560
INCOME BEFORE INCOME TAXES 17,034,594 7,186,952
INCOME TAXES (4,707,364 ) (1,689,693 )
NET INCOME $ 12,327,230 $ 5,497,259
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment 346,088 511,749
COMPREHENSIVE INCOME $ 12,673,318 $ 6,009,008
EARNINGS PER SHARE:
EARNINGS PER SHARE — BASIC $ 1.33 $ 0.62
EARNINGS PER SHARE — DILUTED $ 1.33 $ 0.62
WEIGHTED AVERAGE SHARES OUTSTANDING — BASIC 9,283,591 8,800,000
WEIGHTED AVERAGE SHARES OUTSTANDING — DILUTED 9,283,591 8,800,000
10 bagger
14 years ago
China Redstone Group, Inc. to Present at the Global Hunter Securities 2010 China Conference on July 13
China Redstone Grp. (BB) (OTCBB:CGPI)
Intraday Stock Chart
Today : Tuesday 6 July 2010
China Redstone Group, Inc. (OTC Bulletin Board: CGPI) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, today announced it will present at the Global Hunter Securities 2010 China Conference, being held July 11-13, 2010 in San Francisco, California. Presentation details are provided below:
Date:
Tuesday, July 13, 2010
Time:
1:00 PM PDT (Room 2)
Location:
The St. Regis Hotel, San Francisco
Presenter:
Mr. Michael Wang, Chief Financial Officer
Conference participation is by invitation and registration is mandatory. For more information on the conference, contact Global Hunter at 949-274-8050 or go to chinaconf@ghsecurities.com .
About Global Hunter Securities
Global Hunter Securities, LLC is a full service investment bank focusing on middle market corporate and institutional clients around the world. The firm provides insightful research, innovative capital raising and financial advisory and restructuring services supported by a sales and trading staff with world-wide reach. Global Hunter has offices in San Francisco, Los Angeles, New York, Houston, New Orleans, Newport Beach and Hong Kong, as well as a strong presence and reputation in mainland China. For more information about Global Hunter, please visit http://www.ghsecurities.com.
China Redstone Group, Inc.
China Redstone is a cemetery developer and provider of cemetery products and services in Chongqing, China, through its contractually controlled affiliate Chongqing Foguang Tourism Development (Group) Co., Ltd. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis. Its cemeteries are highly regarded in terms of a number of factors such as tradition, reputation, physical size, capacity of business, available supply, name recognition, aesthetics and potential for development or expansion.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contacts:
China Redstone Group, Inc.
Mr. Michael Wang, CFO
888-600-7955
Or
HC International, Inc.
Ted Haberfield, Executive VP
Tel: +1-760-755-2716
Email: thaberfield@hcinternational.net
SOURCE China Redstone Group, Inc.
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Renee
2 years ago
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